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Brookline Bancorp (BRKL)
NASDAQ:BRKL
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Earnings Data
Report Date
Jan 22, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.24Last Year’s EPS
$0.26Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: 15.05%
|Next Earnings Date:Jan 22, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a balanced view with improvements in net income, customer deposits, and operating expenses, alongside challenges with nonperforming loans and the specialty vehicle portfolio. The sentiment of the call is neutral as the positive trends are tempered by ongoing credit and loan-specific challenges.Company Guidance
During the Brookline Bancorp, Inc's Q3 2024 earnings call, the executives provided detailed guidance on various financial metrics. They reported a net income of $20.1 million and earnings per share of $0.23. Loan growth was modest at $34 million, while customer deposits saw a significant increase of $103 million. The net interest margin improved by 7 basis points to 307 basis points, with expectations of further improvement by 5 to 10 basis points in Q4 and continuing into 2025. Noninterest income remained flat at $6.3 million, and operating expenses decreased to $57.9 million, reflecting cost reductions from exiting the specialty vehicle business. Credit provisions reduced to $4.7 million, with a noted increase in nonperforming loans by $10.5 million due to a specific Eastern funding relationship. The company anticipates a 4% to 5% growth in deposits and projects its Q4 margin to range between 312 to 320 basis points. Operating costs are expected to grow by 3% to 3.5% in 2025, with an effective tax rate of approximately 24.25%. The board maintained the quarterly dividend at $0.135 per share.Net Income and Earnings Per Share Growth
Net income increased to $20.1 million and earnings per share reached $0.23.
Customer Deposits and Margin Improvement
Customer deposits grew by $103 million, and the net interest margin improved by 7 basis points.
Loan Originations and Yield Increase
Loans originated totaled $459 million at a weighted average coupon of 735 basis points, with the loan portfolio yield increasing 15 basis points to 617 basis points.
Operating Expense Reduction
Operating expenses decreased to $57.9 million, a reduction from $59.2 million in Q2, excluding a prior restructuring charge.
Dividend Maintenance
The Board approved maintaining the quarterly dividend at $0.135 per share, with an annualized yield of 5.1%.
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BRKL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BRKL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $10.38 | $10.43 | +0.48% |
| Jul 24, 2024 | $10.03 | $10.17 | +1.40% |
| Apr 24, 2024 | $9.16 | $8.09 | -11.68% |
| Jan 24, 2024 | $10.18 | $10.61 | +4.22% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Brookline Bancorp (BRKL) report earnings?
Brookline Bancorp (BRKL) is schdueled to report earning on Jan 22, 2025, TBA Not Confirmed.
What is Brookline Bancorp (BRKL) earnings time?
Brookline Bancorp (BRKL) earnings time is at Jan 22, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BRKL EPS forecast?
BRKL EPS forecast for the fiscal quarter 2024 (Q4) is $0.24.
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